YouTube's new paid music streaming service could launch in March

YouTube's new paid music streaming service could launch in March

The latest whispers come from Bloomberg sources that claim the new service - internally dubbed "Remix" - will launch in March, 2018.

YouTube and Google has released a lot of music related products including Google Play Music, YouTube Music Key and the video-focused YouTube Red.

As ubiquitous as on-demand music streaming has become in recent years, the global market is pretty close to reaching a saturation point, with two immensely popular platforms and many smaller players basically offering the same exact services. Talks with Sony and Universal, as well as Merlin-which represents hundreds of independent record labels-are apparently underway.

The CEO of Tencent Music Entertainment Group, Cussion Pang, said he was "excited to embark on this partnership with the largest music streaming platform in the world".

Stockholm-based Soundtrap allows its subscribers to have an online music studio and create music together with other people in real time, its website says.

More news: Ukrainian president arrives in Lithuania

Spotify is aiming to file its intention to float with United States regulators towards the end of this year to list in the first or second quarter next year, sources said in September.

Neither the value of the deal nor the new shareholding sizes were disclosed, but reports have suggested they will both be taking a 10% stake.

Videos that were removed include posts by jihadists sympathetic to terrorist groups and bomb-making instructions.

Making things a little spicier is the fact that music channel Vevo's contract with YouTube reportedly requires re-negotiation early next year.

As a result, volunteer moderators have revealed there could be as many as 100,000 predatory accounts leaving inappropriate comments on videos.

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